|
Apple Soars on Strong iPhone Sales in China
Shares of Apple gained as much as 2.1% on Thursday 9 January, as demand for iPhones soared once again in China, after the iPhone maker warned investors in January 2019 of the serious slowdown in the Chinese market.
iPhone sales rose 18% in December from the same period last year, much stronger than Wall Street’s projection. Per the data by China Academy of Information and Communication Technology, Apple had shipped about 3.2 million iPhones to China in December against December 2018’s 2.7 million.
China is a crucial market for Apple, as the Asian country accounts for about 17% of the company’s total sales. Apple carries a Zacks Rank #2 (Buy).
|